90% fewer houses being built: Report

Almost 90% fewer houses are being built than at the peak of the housing boom, according to a new report.

The study by property consultants Savills shows that:

- A total of 2,766 housing units were completed in the first three months of this year;

- Of this 1,528 were individual houses;

- Only 766 were part of development schemes;

- Only 476 apartments were completed countrywide

"For the first quarter of 2011, the number of housing units completed nationwide are at the lowest quarterly level since 1975, when official records were first available," said Savills head of research Joan Henry.